Bank Of America Reiterates Buy Rating On Newell Rubbermaid

According to Bank of America, Newell Rubbermaid NWL is not a value trap. Bank of America said that NWL's downward guidance revision on Friday (Trimming 2011/12 EPS) clearly disappointed the market, with shares -12%. “Reiterate Buy rating, maintaining $24 target. As we detailed in a 5/13 report (Competitive analysis), we believe NWL has a real opportunity for sustainable share gain across its US portfolio, based on favorable market positions in fragmented categories, higher levels of marketing spend, and more sophisticated management relative to actual competitors.” Newell Rubbermaid closed on Friday at $14.97.